Spanish Research Institute Set to Sell Bitcoin Holdings

The Institute of Technology and Renewable Energy (ITER), a Spanish public research institution, plans to sell its accumulated Bitcoin holdings. This decision comes as the institute’s Bitcoin investment, acquired in 2012 for $10,000, is now worth over $10 million. Initially acquired by ITER to explore blockchain technology, the institution’s Bitcoin holdings have grown significantly. The sale is facilitated by a collaboration between ITER and a Spanish financial institution authorized by the Bank of Spain and the National Securities Market Commission. The transaction is anticipated to be completed within the coming months.